Calculated Industries 3430 Pocket Reference Guide - Manual (Page 36)

P
OCKET
R
EFERENCE
G
UIDE
— 32
80:10:10 Combo Loan vs. Fixed-Rate
Loan with Mortgage Insurance
Compare an 80:10:10 Combo Loan vs. a
Fixed-Rate loan w/mortgage insurance.
The loan parameters are:
FIXED COMBO
w/PMI
(1st/2nd)
Loan 250,000 250,000
Interest 6.50% 6.00% –
8.50%
Term 30 30 year–
15 year
PMI 0.62% --
LTV 95% 80% –
10%
STEPS KEYSTROKES DISPLAY
1. Enter Fixed-Rate Loan Values and
Find Total Payment:
Clear o o 0.00
Enter loan 2 5 0 ) l
250,000.00
Enter
interest 6 • 5 ˆ 6.50
Enter term 3 0 T 30.00
Enter MI% • 6 2 s 9 0.62
(Cont’d)